Land rental expertise and advice needed ???

I have several land parcels (about 20-30k Sq M) that I have bought over the last few months because they were good prices or in sims that I use...I dont really use them for anything just kept the Sims looking good this way...was thinking of renting some of them out...This is all Mainland Sim...

A few questions...TY in advance for any advice

1. What rental system would you recommend and why?

2. Is it best to create one Rental group to own all the land or multiple ones?

3. When you use groups what abilities and powers do you give the renters?

4. What do you set the land access and options to ?

5. What seems to be the best size plots to rent ?

6. Is it best to charge rent in Lindens or use Paypal ?

7. What is the best price per prim or sq M ?

8. What would you put in the covenant ?

Any other advice would be welcome...

Kurt Ludd

I think that's answers everybody would want to know , and would gladly pay for

1. What rental system would you recommend and why?
hippo. search for recent threads asking this question for detailed answers.

2. Is it best to create one Rental group to own all the land or multiple ones?
multiple. if you have 5 properties each on 3 sims, use five groups. then each property on each sim can have a separate group. the advantage is that neighbouring parcel renters will not be able to grief their neighbours or encroach on anothers primcount. of course you can use one group for all as well, but it may cause bickering at some point.

3. When you use groups what abilities and powers do you give the renters?
depends whether you are using one or multiple groups.

4. What do you set the land access and options to ?
no banlines, group only build etc. or allow all and set autoreturn.

5. What seems to be the best size plots to rent ?
1024-2048 in my experience. but i know people successfully rent larger parcels

6. Is it best to charge rent in Lindens or use Paypal ?
lindens!

7. What is the best price per prim or sq M ?
depends on the land. $2-4 per prim works well.

8. What would you put in the covenant ?
not in-worls to copy and paste right now.

Any other advice would be welcome...
look over the past couple of months threads and read similar topics. look in the land rental forum here and on slx and see what people are charging and whatnot.

ymmv

Thanks...Good advice

1. What rental system would you recommend and why? Apez, because it keeps records on a website for you.

2. Is it best to create one Rental group to own all the land or multiple ones? Probably one group is easier.

3. When you use groups what abilities and powers do you give the renters?
Set home, return non-group objects, control access and bans, set audio and video URLs, receive notices.

4. What do you set the land access and options to ? No damage, no pushing, no terraforming.

5. What seems to be the best size plots to rent ? What matters is prims and price, not land size. At this time there seems to be a big demand for cheap places (e.g. L$100 / week). But renting a big place to someone who stays there for a long time is the best deal, if you can find it.

6. Is it best to charge rent in Lindens or use Paypal ? Lindens!

7. What is the best price per prim or sq M ? Your tier cost per prim divided by the fraction of time you expect your parcel to be rented is your breakeven point. Charge 25 - 75% over this, keeping in mind that the more you charge the harder it will be to attract tenants and keep them.

8. What would you put in the covenant ? Mainland doesn't have convenants. But I don't allow tenants to put up additional buildings or modify the existing ones, and I explicitly say that there will be no refund for early termination of the lease.

A question you should have asked:

9. How much work is it to be a successful property renter? Lots!

Hippo tech does that now.

1. What rental system would you recommend and why?

Hippo tech. I use Apez and Hippo tech. Apez's major advantage was managing rentals from the website. You can do that now with Hippo tech if you buy the web plugin and the rental system.

2. Is it best to create one Rental group to own all the land or multiple ones?

In an ideal world it would be best to create multiple groups, unfortunately there's a 25 group limit here so you need to go for one or two really.

3. When you use groups what abilities and powers do you give the renters?

Set home to here at the very minimum. I generally let them have return non group objects, change media settings.

4. What do you set the land access and options to ?

No damage, no pushing, no terrforming.

5. What seems to be the best size plots to rent ?

I wish I knew. It's good to be flexible. If you have a 2048 and someone wants a 512 you can cut it for them.

6. Is it best to charge rent in Lindens or use Paypal ?

I charge Lindens, easier for me.

7. What is the best price per prim or sq M ?

Again this varies. The more land you own, the less you can charge to meet tier.

8. What would you put in the covenant ?

Well If you want residential only, you put that. If you don't want clubs, you put that. Clearly explain tier fees here. Don't put a big list of "You can't do this", try and be friendly and positive.

Other advice, you need a hell of a lot of patience.

when I look for rental I look for a small appartment in an interesting sim that I can set my home to. will usually buy whatever form of entertainment there is to boot, in my case it's normally combat/RP sims.

... some of these could help my Landlord, but he tells me, due to the nature of the sim:

He can't give me rights to change the radio or set the video on my parcel.

Also, if I deed something to the group, I can't return it to myself (he says it's checked in the settings that I can).

I asked about selling the parcel and we could make the changes (this is the way we operated before this parcel), and he said if he does that, the prim count will drop.

I'm wondering if he's renting the sim as well, if these are issues? He's set me up as an "Officer" in the group with these rights?

Any ideas?

Thanks!